Shopping cart abandonment is an issue that plagues online retailers. Often times, for shoppers, it can be enticing to fill the cart, but less enticing to follow through and submit the payment info for the final checkout. We’re covering 3 main ways to combat the abandoned shopping cart problem and are offering 6 solutions that can help you convert more shoppers into paying customers.
HOW TO RECOVER ABANDONED CARTS
1. On Site Shopping Cart Recovery
Why do Magento store-owners love this option so much? Because the shoppers are targeted while they’re still on the website, not after they’ve already left.
Granify is a proven revenue-increasing on-site retargeting solution that recovers customers who aren’t going to buy and transforms them into sales conversions. By analyzing every single move, step, path taken and identifying potential objection to purchase, Granify’s full automated process takes into account Buyer’s Journey and digital body language to displays custom messages to address concerns and stimulate the decision.
Olark – Online Chat (link)
Customers who are on the fence about the product but are still committed to further investigation sometimes need an additional question answered or a clarification. You can compare the online chat function to asking a sales representative or in-store clerk a quick question about their potential purchase. The speedier your response time, the more likely they are to convert sooner.
Olark helps you be there for your customers as often and as conveniently as you can afford to be. This kind of instant on-demand availability of support is one of the main contributing factors to overall customer satisfaction, and on-site live chat extensions like Olark help you get the job done.
2. Email Cart Recovery
Rejoiner guarantees an 4-fold increase on your ROI each month. That’s an impressive guarantee, but the fact that some major brands have generated over a hundred-million dollars in combination of revenue using the Rejoiner email lifecycle system gives them the confidence to make such a brazen claim.
Using the Rejoiner extension helps recover enough abandoned carts to make it worth your while to look into it more.
Follow Up Email (link)
The Follow Up Email plugin for Magento boosts revenue and increases return customers, and claims to average over $5 in revenue for every cart abandonment email sent out. This is due to 35% of the referral clicks from a cart abandonment email resulting ultimately in a purchase.
Furthermore, 68% of consumers surveyed responded that the coupons you can offer using Follow-up Email for Magento generate customer loyalty, and repeat business from loyal customers generates on average 67% more money per sale than a new sale. The lifetime value of a customer is something to consider when weighing the cost of customer acquisition against alternative marketing areas to focus on, such as customer retention.
Whether you’re an expert marketer or you’re just getting started with your first eCommerce enterprise, CartStack allows your automate your shopping cart recovery using professional email designs customized to your brand needs. You can update your email templates with the visual editor, and even use A/B split testing to compare results of different versions of your email marketing. The plugin provides actionable data and marketing campaign insights that help you maximize your email retargeting efforts.
3. Multichannel Solutions
Carts Guru (link)
Carts Guru is a behavioral multichannel cart abandonment tool, that allows you to re-engage the conversation with the shoppers using the communication method most likely to perform positively. You can segment and implement different scenarios according to transaction value, type of items and are in total control of the time and place of messaging, be it via email or phone call. Based on criteria you define, you can use one or several techniques to bring the shoppers back to the checkout line.
Using personalized email remarketing brings customers right back to their shopping cart with one click. You can even include a new discount offer to entice them to recover their order instead of letting it fall to the wayside or going to a competitor.
With texts messaging being the preferred method of communication among online shoppers today, getting shoppers attention with SMS retargeting results in a typical 20% conversion rate increase.
The phone call is a tactic best reserved for high-dollar-value abandoned shopping carts. The Carts Guru plugin lets you automate phone calls to recover abandoned carts or to address payment failures in real time. Focusing this tactic on high-value carts allows you to automatically call them with the order information displayed right in front of them so that you’re able to address any specific concerns person-to-person. This kind of personalized interaction is appreciated by consumers and has proven to boost sales.
Facebook & Instagram Retargeting
A solution you activate in just a couple of clicks is worth taking a moment to consider. Carts Guru saves the extensive hassle of implementing dynamic retargeting and allows for executive ease when setting up your automated processes.
Shopping cart abandonment might be a plague for eCommerce operators but it needn’t be suffered at a loss. Several tools exist for Magento ecommerce stores to claim their revenue back before the competition does, or before the shopper is left unsatisfied, for X or Y reason.
We take your business where you want it to go.